ITV Revenues Increase In COVID-Hit Quarter

U.Ok. broadcaster ITV elevated exterior revenues by 2% within the quarter ending March 31, 2021, in keeping with monetary outcomes launched on Wednesday.

Total exterior income was up 2% at £709 million ($985 million) in comparison with 2020’s £694 million, regardless of the COVID-19 restrictions in place all through the interval, not like the identical quarter in 2020 which solely had a restricted affect, the broadcaster famous.

The “Love Island” broadcaster additionally stated that revenues for ITV Studios have been up 9% at £372 million, in comparison with 2020’s £342 million.

Media and leisure income was down 3% at £484 million, trailing 2020’s £500 million, and was dented by the nationwide lockdown, which solely started lifting in April. ITV whole promoting was additionally affected and was down 6%, whereas on-line income was up 14%.

Carolyn McCall, ITV chief government, stated: “We have made begin to 2021 with whole income and whole viewing each up, regardless of the persevering with affect of the pandemic. We completed the quarter strongly with the substantial majority of our reveals again in manufacturing and a restoration within the promoting market.

“We are inspired by the U.Ok. roadmap out of lockdown and stay cautiously optimistic in regards to the 12 months forward. Our promoting revenues are rebounding from final 12 months with April up 68% and we count on May to be up round 85% and June up between 85% and 90%, in comparison with the identical interval in 2020. This is pushed by U.Ok. COVID-19 restrictions being diminished and a robust schedule that includes ‘Love Island’ and the Euros.

“However, the promoting market and worldwide productions stay uncovered to the dangers related to the pandemic. Accordingly, we proceed to intently monitor the state of affairs in all of the international locations during which we function.

“We stay dedicated to investing within the acceleration of our technique to digitally remodel ITV which can, partly, be funded by the supply of our value saving targets.”


supply: https://selection.com/2021/television/international/itv-quarterly-financial-results-1234966843/

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